Carpenter Technology Co. (NYSE:CRS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,723 shares of the basic materials company’s stock after selling 233 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Carpenter Technology worth $2,337,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Carpenter Technology by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock valued at $393,562,000 after acquiring an additional 53,994 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock worth $256,072,000 after purchasing an additional 43,589 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock worth $68,833,000 after purchasing an additional 438,781 shares during the period. Hawk Ridge Capital Management LP lifted its holdings in Carpenter Technology by 199.1% in the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock worth $48,741,000 after purchasing an additional 458,227 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in Carpenter Technology by 19.2% in the first quarter. Hennessy Advisors Inc. now owns 461,500 shares of the basic materials company’s stock worth $32,960,000 after purchasing an additional 74,400 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CRS shares. Benchmark reiterated a “buy” rating and issued a $140.00 price target on shares of Carpenter Technology in a research report on Tuesday, May 28th. TD Cowen boosted their price target on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Northcoast Research reiterated a “sell” rating and issued a $89.00 price target on shares of Carpenter Technology in a research report on Friday, June 14th. BTIG Research started coverage on shares of Carpenter Technology in a research report on Wednesday, June 26th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of Carpenter Technology stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the transaction, the senior vice president now owns 84,798 shares of the company’s stock, valued at approximately $9,434,625.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James D. Dee sold 23,518 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total value of $2,616,612.68. Following the completion of the sale, the senior vice president now directly owns 84,798 shares of the company’s stock, valued at approximately $9,434,625.48. The disclosure for this sale can be found here. Insiders have sold a total of 59,678 shares of company stock valued at $6,261,693 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Carpenter Technology Price Performance

NYSE CRS opened at $105.21 on Wednesday. The stock’s 50-day moving average price is $103.22 and its two-hundred day moving average price is $80.63. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.22 billion, a PE ratio of 40.00 and a beta of 1.44. Carpenter Technology Co. has a 1 year low of $51.94 and a 1 year high of $112.75.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The firm had revenue of $684.90 million for the quarter, compared to the consensus estimate of $707.73 million. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts predict that Carpenter Technology Co. will post 4.35 EPS for the current year.

Carpenter Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.76%. The ex-dividend date was Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is 30.42%.

Carpenter Technology Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.